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FDIC Board Votes to Maintain Current Assessment Levels

WASHINGTON - The FDIC Board cleared a number of proposals last week to bring its regulations in line with the Federal Deposit Insurance Reform Act and the Conforming Amendments Act, as well as voting to maintain the current assessment rates for banks and thrifts.

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WASHINGTON – The FDIC Board cleared a number of proposals last week to bring its regulations in line with the Federal Deposit Insurance Reform Act and the Conforming Amendments Act, as well as voting to maintain the current assessment rates for banks and thrifts.

Despite an estimate that the reserve ratio has fallen below the designated 1.25% as of the end of the first quarter and will likely continue down to 1.20% by year-end, the board voted last Tuesday to maintain the current assessment structure of 0 to 27 basis points per year based on risk. However, hefty assessments are expected for 2007.

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